I used to wonder why some people cry at retirement parties.
Now I know.
Retirement planning can be daunting. I semi-retired in 2019, only to boomerang a year later. Walking away from a career you love and co-workers who have become friends is tough. It doesn’t get easier the second time around.
But if your gut is telling you it’s time, here are a few things you should know.
1. Don’t let depression get you down.
You may have gone all of your adult life complaining about your job, but not having one leaves a void that has to be filled.
Decades ago, I interviewed a woman who was a medal winner at the Senior Olympic Games swimming competition. She used to be in a bowling league but an injury sidelined her.
She advised me to find something I enjoyed doing now, so when I retired, I’d have something to do.
She was right. Boredom is debilitating. There’s only one cure for it — doing something.
2. Don’t get stuck on the couch.
The worst thing that has happened to seniors is the proliferation of streaming services. You can end up binge-watching one series after another (I can’t get enough of “Your Honor” on Netflix). Or you could take up an exercise routine that is more play than work.
During my lifetime, I’ve probably purchased a dozen gym memberships only to stop going after a few visits. Now in my 70s, I have found an exercise routine that works for me. The money I used to spend on unhealthy habits, I now spend on a fitness trainer.
3. Don’t throw away your money.
The most disgusting scammers are the ones who trick seniors into giving them cash or personal information that leads to identity theft.
These scammers overcharge seniors for everything from catheters to roof repairs.
Medicare loses an estimated $60 billion annually to fraud, according to senior advocacy groups. Scams targeting people 60 and older caused more than $3.4 billion in losses in 2023, an increase of 11% from the previous year, the FBI’s Internet Crime Complaint Center reported.
These scams could happen to anyone but they are especially traumatizing when you have to explain to a grandchild you got scammed out of their college fund.
To protect your finances, it’s best not to engage with unknown callers. Ever.
“They play on Fridays, they go to lunch on Wednesday, often bowl on Tuesdays, and sometimes go golfing on Thursday. That kind of structure and that kind of community that all of these guys have is gold,” says Greg Zerkis.
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4. Don’t do a ‘Swedish death cleaning’ until you are ready to say goodbye to your past.
“Swedish death cleaning” is where you work on getting rid of all that stuff you’ve accumulated over a lifetime so your loved ones won’t have to do it after you die. I gave jewelry to my granddaughters, took bins of clothing to Goodwill and shredded a mountain of paper. No problem.
But later I went through one of my bins and found a tiny pink unfinished sweater I crocheted for my daughter. I put the sweater back in the bin and haven’t touched it since.
“Maybe tomorrow,” I keep telling myself about completing the project. “Maybe tomorrow.”
5. Don’t forget to count your blessings.
Not every worker gets to move to a warmer climate or spend time checking items off bucket lists.
A lot of people still work well past retirement age because they don’t have the money to retire.
So, be kind.
We are the lucky ones.
